v3.26.1
Property, Plant, and Equipment
 3 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant, and Equipment PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment consisted of the following amounts:
(DOLLARS IN MILLIONS)March 31, 2026December 31, 2025
Asset Type
Land$134 $135 
Buildings and improvements1,812 1,798 
Machinery and equipment3,835 3,761 
Information technology645 627 
Construction in process437 504 
Total Property, plant and equipment6,863 6,825 
Accumulated depreciation(2,866)(2,796)
Total Property, plant and equipment, net$3,997 $4,029 
Depreciation expense was $100 million and $93 million for the three months ended March 31, 2026 and 2025, respectively.
Interest incurred during the construction period of certain property, plant and equipment is capitalized until the underlying assets are placed in service, at which time straight-line amortization of the capitalized interest begins over the estimated useful lives of the related assets. Capitalized interest was approximately $4 million and $3 million for each of the three months ended March 31, 2026 and 2025, respectively.